Wintrust Investments LLC Has $201,000 Stock Position in Bank of America Co. (NYSE:BAC)

Wintrust Investments LLC decreased its holdings in shares of Bank of America Co. (NYSE:BAC) by 43.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,575 shares of the financial services provider’s stock after selling 3,490 shares during the quarter. Wintrust Investments LLC’s holdings in Bank of America were worth $201,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Swedbank AB grew its holdings in shares of Bank of America by 0.7% during the 3rd quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock valued at $279,441,000 after acquiring an additional 50,849 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Bank of America by 3.8% during the third quarter. Principal Financial Group Inc. now owns 15,415,630 shares of the financial services provider’s stock worth $611,692,000 after acquiring an additional 569,385 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its position in Bank of America by 13.2% during the third quarter. Nations Financial Group Inc. IA ADV now owns 32,361 shares of the financial services provider’s stock valued at $1,284,000 after purchasing an additional 3,772 shares during the last quarter. Harbour Investments Inc. grew its stake in Bank of America by 3.5% in the third quarter. Harbour Investments Inc. now owns 27,487 shares of the financial services provider’s stock valued at $1,091,000 after purchasing an additional 923 shares in the last quarter. Finally, GSA Capital Partners LLP increased its position in Bank of America by 63.7% in the 3rd quarter. GSA Capital Partners LLP now owns 31,875 shares of the financial services provider’s stock worth $1,265,000 after purchasing an additional 12,402 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on BAC. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Morgan Stanley boosted their target price on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Wells Fargo & Company raised their price target on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Barclays increased their target price on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and a consensus target price of $48.64.

Bank of America Stock Performance

BAC opened at $39.90 on Thursday. The stock’s 50 day simple moving average is $45.36 and its 200-day simple moving average is $43.73. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The stock has a market cap of $303.40 billion, a PE ratio of 12.39, a P/E/G ratio of 1.21 and a beta of 1.32. Bank of America Co. has a 1 year low of $34.15 and a 1 year high of $48.08.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. Sell-side analysts forecast that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.61%. Bank of America’s payout ratio is presently 32.30%.

Bank of America Profile

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.